Dollar Thrifty Automotive Group Knows the Way to San Jose; Company Acquires Franchise Operation in Silicon Valley Capital
TULSA, Okla., March 11 -- Dollar Thrifty Automotive Group, Inc. today announced the acquisition of the Thrifty Car Rental operation in San Jose, California. The acquisition, which adds approximately 550 vehicles to the company's corporate fleet, includes a location at San Jose International Airport's consolidated rental car facility, as well as a suburban location in Palo Alto. The terms of the transaction, effective today, were not disclosed.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020412/DTGLOGO )
"Ranked as the 23rd largest airport car rental market in the United States, San Jose is a welcome addition to our corporate operations, " Jay Foley, Senior Executive Vice President - Corporate Operations, said. "We currently operate the Dollar brand corporately at San Jose International. Adding the Thrifty brand provides us with another opportunity to serve the value-seeking car rental customers in the Bay Area with outstanding service and quality products."
As part of its growth strategy to acquire locations in the top 75 U.S. airports and operate them corporately, the Company has acquired approximately 45 U.S. and Canadian markets and opened seven new Dollar or Thrifty Greenfield locations, adding approximately 28,000 vehicles, on an annualized basis, to the Company's rental fleet.
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value- conscious travelers in approximately 70 countries. Dollar and Thrifty have approximately 800 corporate and franchised locations in the United States and Canada, and they have operations at most major airports. The Company's more than 8,000 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network. For additional information, visit http://www.dtag.com/ .
Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Dollar Thrifty Automotive Group, Inc. believes such forward-looking statements are based upon reasonable assumptions, such statements are not guarantees of future performance and certain factors could cause results to differ materially from current expectations. These factors include: price and product competition; economic and competitive conditions in markets and countries where the companies' customers reside and where the companies and their franchisees operate; natural hazards or catastrophes; incidents of terrorism; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; systems or communications failures; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters and litigation risks. Should one or more of these risks or uncertainties, among others, materialize, actual results could vary from those estimated, anticipated or projected. Dollar Thrifty Automotive Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020412/DTGLOGOAP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com